09 July 2015
I want to ask suppose one of my client has net business loss of 20000 and agriculture income of 19 lacs and he wants to get his accounts audited as having business turnover of Rs.30lacs although not liable for 44AB tax audit. So can 3cd report be issued for such voluntary audit and if no , please suggest the format and does audit report need to be uploaded on income tax website and what will be his due date for filing returns?
10 July 2015
you can do tax audit and file 3CB & 3CD for showing the income below 8% i.e. 44AD & 44AE cases. in your case turnover is 30 lacs and covered by 44AD. As per 44AD you have to offer 2.4 Lacs. but your net result is loss. You have to file Tax audit 44AB clause d.
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